Carlyle has signed a definitive agreement to acquire an approximately $7.7bn portfolio of unsecured personal loans from Truist, the US bank, the private markets firm said on 16 October.
Why Carlyle (Global Credit / Asset-Backed Finance) is buying Truist personal loan portfolio (LightStream)
Carlyle said the transaction, led by its Asset-Backed Finance team, demonstrates the scale and specialised underwriting capabilities of its Global Credit platform, and pointed to banks increasingly using private capital to manage their balance sheets.
“Banks are increasingly turning to private capital to help manage their balance sheets.”
Deal terms and financing
The seasoned portfolio consists primarily of fixed-rate, fully amortising loans to super-prime and prime borrowers. The purchase price was not disclosed.
Regulatory approvals and timing
The transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions.
Market context
Alternatives Watch reported that the loans are Truist's LightStream personal loan portfolio and that it is the bank's second consumer loan sale within a month as it refocuses on deposits. Asset-backed finance has become one of the fastest-growing areas of private credit as banks offload consumer and specialty loan books.
